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Governance, risk & internal audit PREC ISE . PROVEN. PERFORMANCE .
Enhancing performance through governance, risk and internal audit
2 Governance, risk & internal audit
Enhancing performance through governance, risk and internal audit
The management of risk and
implementation of robust corporate
governance has become an increasingly
important aspect of global business. Many
companies are required by law, regulations
or stakeholders to adopt governance
processes and procedures, but even more
choose to do so as part of a successful
business strategy. Our Governance, Risk &
Internal Audit (GRI) team offers a range of
services designed to support boards in
maintaining robust governance and
assurance frameworks and managing risks
effectively.
Corporate governanceOrganisations are increasingly required to
demonstrate effective corporate governance
to meet the high expectations of all their
stakeholders and comply with best practices
such as the Hong Kong Exchanges and
Clearing Limited’s (HKEx’s) Corporate
Governance Code.
Good corporate governance ensures that
transparency, accountability and fairness are
embedded in the decision making process
of your organisation. To achieve this, our
team will work in partnership with you to
help develop an effective corporate
structure with strong procedures, leveraging
our knowledge of best practice in similar
businesses. Once in place, we then assist in
the maintenance and monitoring of your
governance framework and procedures to
ensure they continue to meet your and your
stakeholders’ goals.
Effective governance is fundamental to the
performance of a business.
GRI TrainingWe provide bespoke training courses to
enable your people to develop a clear and
practical understanding of governance, risk
management, control and assurance in the
context of your organisation.
Our courses are designed for board and
committees, senior management, staff and
auditors. They are delivered by experienced
senior professionals with a background of
both working in businesses and advising
clients on enhancing performance through
governance, risk and internal audit.
ESG advisory and reportingHKEx has upgraded the disclosure
obligation of the Environmental, Social and
Governance (ESG) Reporting Guide in its
Listing Rules. HKEx amended the Listing
Rules to require issuers to state in their
annual reports or ESG reports whether they
have followed the “comply or explain”
provisions set out in the ESG Reporting
Guide for the relevant financial year. Moore
Stephens can help you to:
• establish your ESG governance
framework;
• facilitate in determining the aspects and
KPI to be included in the ESG reporting
and how to collect the respective data;
• draft the ESG report;
• facilitate to implement international
standards within your organisation such
Robust governance and effective risk management is no longer a matter of pure regulatory compliance. Businesses increasingly recognise the potential to maximise performance through applying best practice and gaining additional assurance.
as GRI G4 for sustainability reporting and
ISO 14064 to quantify, monitor, report
and verify Green House Gas (GHG)
emissions.
Internal auditA critical element of good corporate
governance is ensuring that procedures and
controls are operating effectively across all
operations. Internal audit provides such
assurance and also identifies areas of
improvement within key operations of the
business, thus empowering management to
enhance performance.
An effective internal audit consists of a
systematic review of all the important
processes in an organisation, including
finance, HR, IT, sales, purchasing and other
operational departments. Internal audit
evaluates policies, procedures and controls,
to ensure they address:
• the achievement of objectives;
• the management of risk;
• the effective and efficient use of
resources;
• compliance with external laws and
regulations;
• the safeguarding of assets from fraud,
irregularity or corruption;
• the integrity and reliability of
information.
As well as providing both fully outsourced
and co-sourced internal audit, the Moore
Stephens team can assess the effectiveness
of your existing internal audit function, help
3Governance, risk & internal audit
you to establish your own function or
perform an audit of any area of your
business.
Certain internal audits require assurance to
be given. Our internal controls assurance
services include:
• assurance reports on internal controls of
service organisations made available to
third parties (ISAE 3402 and SSAE 16);
• regulatory compliance advice and
implementation assistance covering
Sarbanes-Oxley, and Basel III.
IT advisory and assuranceIn today’s competitive environment,
businesses increasingly depend upon
technology systems. But the risks of failure
can be high and the ever-increasing
challenge is to harness the power of IT
whilst avoiding the risks. Whatever your
needs, our experience and expertise can
help you meet these and countless other IT
challenges, and ensure that your IT is
helping not hindering your business.
As part of Moore Stephens GRI Group, our
IT advisory and assurance team provides
clients with access to a specialised group of
professional resources experienced in a
range of programme and project-related
activities:
• governance structure and setup;
• quality management systems;
• cyber and IT security;
• change/risk management;
• project lifecycle management;
• project and delivery frameworks;
• sector-specific products;
• IT strategy.
RhizaEmbedding risk management procedures
into day-to-day business activities is vital
– but can seem a daunting task. Risk
management systems can either be too
simplistic and lack the sophistication you
require, or can be excessively complex and
expensive to implement, use and maintain.
There is an alternative. Rhiza, a risk
management software from Moore
Stephens.
Rhiza is a practical, low cost, easy to use
tool that complies with best practice and
avoids unnecessary complications. It enables
you to:
• capture and grade your key risks and
controls;
• manage and monitor risks intelligently
and systematically;
• provide clear, concise reports;
• monitor how effectively risks are being
controlled;
• embed risk management in daily
activities.
Rhiza complements Moore Stephens’
extensive risk management offering,
including risk management reviews,
workshops and training we currently
provide to clients.
Risk managementIt is impossible to eliminate risk from your
business completely - but you can manage
it. Strong risk management will help protect
your business against the unexpected.
The management of risk should not just be
viewed as the responsibility of a separate
function. The pressure on the Board,
therefore, is not only to develop effective
structures and systems to manage risks, but
to ensure those systems are aligned with
business objectives, strategies and internal
functions, and embedded into every part of
your organisation.
At Moore Stephens, our sector-specific
approach guarantees that we help you
identify and fully understand the risks that
affect your business, and then implement
the right controls to address them.
Our risk management software Rhiza,
complements your existing function and
enables effective and accurate risk
identification, recording and reporting,
evaluation and planning. Rhiza goes to the
root of the risk management challenge by
enabling organisations to communicate
their risks and mitigating actions effectively
– ensuring that risk management becomes
embedded into everyday business activities.
Contact informationIf you would like further information on any item within this
brochure, or information on our services, please contact:
Patrick A. Rozario – Managing Director
www.moorestephens.com.hk
Moore Stephens in Hong Kong
Moore Stephens Hong Kong is a member firm
of Moore Stephens International Limited.
Established in Hong Kong in 1975, our success
stems from our industry focus, enabling us to
provide an innovative and personal service to
our clients.
Our objective is simple: to be viewed by
clients as the first point-of-contact for all their
financial, advisory, compliance needs. We
achieve this by providing sensible advice and
tailored solutions to help clients achieve their
business goals.
Moore Stephens delivers personal attention,
international perspective and local market
knowledge in providing assurance, accounting,
secretarial, tax and advisory services.
Moore Stephens globally
Moore Stephens is a top ten accounting and
consulting network with offices and member
firms across the globe.
Moore Stephens member firms share common
values: integrity, personal service, quality,
knowledge and a global view.
By combining local expertise and experience
with the breadth of our worldwide network,
clients can be confident that, whatever their
requirement, Moore Stephens will provide
the right solution to their local, national and
international needs.
We believe the information contained herein to be correct at the time of going to press, but we cannot accept any responsibility for any loss occasioned to any person as a result of action or refraining from action as a result of any item herein. Printed and published by ©Moore Stephens Advisory Services Limited, a member firm of Moore Stephens International Limited, a worldwide network of independent firms. ©2016 Moore Stephens
Chris Chan – Director
Hermes Liang – Director
